Legal Question in Credit and Debt Law in New York

Who is responsible for this debt?

I bought a truck, from a friend, the registration, and title are in my name, the loan is in her name. We had a verbal agreement as to the amount of payment, which she did not abide by, and I ended up paying the whole amount each month. I have been paying for 26 months like this, and refuse to pay anymore. What are my legal obligations, and what rights do I have? Any other information you can give me would be greatly appreciated, as I am at my wits end, also the truck still sits in my driveway, and I have not paid any payments for two months. Thank you in advance!


Asked on 12/30/04, 8:11 pm

1 Answer from Attorneys
Guy Lewit Guy Mitchell Lewit, Esq.

Re: Who is responsible for this debt?

Something is wrong with your story...you bought truck from your friend and it is titled in your name...so you own it...the loan is in "her" name. Who is "her"? If you don't pay for the truck, whoever lent the money (assuming there is a loan agreement that allows it) can get the truck back. If you pay for it in full, which you should since it is in your name SOLELY, then the truck is yours, legally and morally, and you can do with it what you like...dump the girl...

Read more
Answered on 1/02/05, 7:47 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in New York